Global
Metal Recycling Market: Description
Metal
recycling is the process of collecting scrap metal and redirecting it
to a useful application. This helps reduce the amount of metal
extracted from the earth, thus reducing mining activities and
eliminating the various harmful effects it has on the environment.
Since metals are an exhaustible resource, metal recycling has gained
demand as a feasible method of reducing the need for new extraction.
The increasing demand for various kinds of metals all around the
world, due in large part to the rampant growth of urban
infrastructure in developing economies, has played a major part in
driving the metal recycling market.
The
report on the global
metal recycling market answers key questions about the global
metal recycling market, shedding light on all aspects of the market
to provide a complete coverage. The competitive dynamics of the
global metal recycling market, its key segments, and the major trends
observed in it are elucidated in the report, along with an analysis
of the major driving and restraining factors acting on the market.
Global
Metal Recycling Market: Drivers and Restraints
The
major driver for the global metal recycling market is the rapid
growth of various end users of metal products. The automotive
industry and the construction industry are both experiencing booming
sales figures at present, with the increasing spending power of
consumers in developing economies helping these industries add to the
steady demand they enjoy in developed regions. Asia Pacific, in
particular, has witnessed urbanization at a rapid rate and on a
massive scale, with countries such as China, India, and South Korea
going all out to catch up with the leaders of the global economy.
This is a major factor driving the global metal recycling market and
is expected to remain influential in the years to come.
The
electronics industry is also experiencing an unprecedented growth
curve, with sales of smartphones and other consumer electronics
exhibiting record figures in several countries across the world.
Various metals are used in electronics due to their high endurance
and mechanical strength and high electrical conductivity. As a
result, the electronics industry has also emerged as a significant
patron of the global metal recycling market.
The
rapid industrialization observed in Asia Pacific, Latin America, the
Middle East, and developed parts of Africa has also helped boost the
demand for recycled metals. As the developing countries in these
regions experience industrialization on a large scale, the demand for
advanced urban infrastructure will also rise in the coming years,
propelling the global metal recycling market.
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Global
Metal Recycling Market: Segmentation
The
major types of metals recycled for further usage are ferrous metals
and non-ferrous metals. Of these, ferrous metals, such as iron and
steel, dominate the global market for metal recycling. Ferrous metals
are popular in construction and manufacturing applications in various
industries due to their high endurance and mechanical strength. In
fact, steel scrap has already become a major source of steel for the
global steel industry.
Geographically,
North America and Europe dominated the global metal recycling market
in 2015. Widespread distribution of urban infrastructure, the early
adoption and increasing usage of consumer electronics, and supportive
government regulations to promote recycling have been the major
drivers for the metal recycling market in the region.
Major
companies in the global metal recycling market include ArcelorMittal,
Commercial Metals Company, Nucor Corporation, Aurubis AG, and Sims
Metal Management Limited.
The
report offers a comprehensive evaluation of the market. It does so
via in-depth qualitative insights, historical data, and verifiable
projections about market size. The projections featured in the report
have been derived using proven research methodologies and
assumptions. By doing so, the research report serves as a repository
of analysis and information for every facet of the market, including
but not limited to: Regional markets, technology, types, and
applications.
